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When Is Credit Card Payment Reversal Essential

When Is Credit Card Payment Reversal Essential

Here are few of the transaction scenarios when you may have to choose for a credit card payment reversal: Unauthorised transactions: Any transaction that is not done by you or without your notice or an additional cardholder may need reversal of payment. Refunds: Refunds that have not been processed due to various reasons, or that were incorrectly processed as debits. Faulty or defective goods: At times you may pay for purchase but do not end up receiving them or if…

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How to Avail a Loan on Credit Card?

How to Avail a Loan on Credit Card?

Typically, loan on credit card is accessible on a pre-approval basis. Your credit card provider will notify you through SMS or email when you turn out to be eligible for a loan on your credit card. The maximum amount of loan that you can avail will also be informed to you. The following are the two common means to apply for a loan against your credit card: Call the customer care department of your credit card provider and communicate with…

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What are the Consequences when You Spend Beyond Your Credit Limit?

What are the Consequences when You Spend Beyond Your Credit Limit?

As you are aware, every credit card has fixed limit that is set by the credit card provider indicating the maximum limit the card holder can spend on it. Have you ever questioned yourself what would happen if you use your card over spend an amount above your credit limit? Will the transaction be successful if you spend over your credit limit or it gets rejected? The success or failure of a transaction completely depends upon the credit card that…

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What are the Consequences of Making Minimum Payments on Credit Cards

What are the Consequences of Making Minimum Payments on Credit Cards

By making the minimum payment on your monthly due of your credit card can result in extreme pain in the future. By paying merely minimum amount as per each monthly statement, you are extending out how long it takes to wipe out your credit card debt and paying considerably more interest than you otherwise would. Minimum monthly payments can be a short-term tactic to withdraw your financial crisis and, by itself, a minimum payment will not damage your credit score…

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What does a Negative Balance on Your Credit Card Indicate?

What does a Negative Balance on Your Credit Card Indicate?

There is no need to get panic or anxious with if you see a credit card statement with a negative balance. In fact, there is nothing damaging about the point that you have a negative balance. A negative balance on your credit card could be because of various reasons. Some of the common reasons are listed below: Extra amount of payment from your end: Paying amount more than what you have transacted for is one of the most common causes…

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Means to Receive Reversal of Credit Card Payments

Means to Receive Reversal of Credit Card Payments

Cancellation of Purchase – As a credit cardholder, you have the choice of cancelling any purchase that you may have made with your credit card online or at physical stores. You can either cancel the transaction directly or request for a chargeback. To cancel the order directly, you have to cancel the order and the payment will be reversed in their bank account within 30 minutes. A chargeback is a way through which you can cancel your transaction if you…

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Tips for Reading a Credit Report

Tips for Reading a Credit Report

Once you receive access to your credit report, evaluate it wisely. The credit report from different credit reporting bureau differ in format, clarity, and completeness. Be sure to verify the vital aspects stated below:  Authenticate that all identifying information is accurate. Check to ensure there are no mistakes in your personal information such as name, address, employment, social security number, etc..  Ensure that the accounts displaying in your name are accurately yours. Verify to ensure that there are no accounts,…

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Different Means to Claim Reversal of Your Credit Card Payment

Different Means to Claim Reversal of Your Credit Card Payment

Customer Dispute You can file a dispute as a cardholder with the provider. When a merchant obtains a customer dispute, it will assign a reason code. The reason code describes the source of the dispute, that is, it will explain the purpose of the claim.  Authorization Reversal  Authorization reversals reverse a payment prior it formally goes through. If you identify something improper after submitting the authorization request, you can call your credit card provider in order to stop the transaction….

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Drawbacks of Holding Multiple Credit Cards

Drawbacks of Holding Multiple Credit Cards

The following are few significant drawbacks that you should be aware while owing a business credit card:  If your own multiple credit cards, you have a tendency to splurge. It is more likely for surpass your budget   The more you have credit cards, the more difficult it is to track the spending on your credit cards  If you are not paying proper focus on your card utilization, you might even miss out cases where your card has been mishandled   It might also create mess in…

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What Impact Does Your Credit Card Over Limit Has On Your Credit Score?

What Impact Does Your Credit Card Over Limit Has On Your Credit Score?

You might have a hesitation in your mind on if paying a credit card over limit fee will disturb your credit score and what if it is reported to the credit bureau. To clear this, a payment of credit card over limit fee will not be reported to the credit bureau and consequently, will not show any effect on your credit score. Conversely, there is another side to the Over limit Fee that you should be aware of. If you…

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